Archer Aviation (NYSE:ACHR) Insider Tosha Perkins Sells 42,775 Shares

Key Points

• Insider Tosha Perkins sold 42,775 shares of Archer Aviation (NYSE: ACHR) on August 18th for a total of $420,478.25, reducing her ownership by 12.65%.
• Archer Aviation reported a quarterly loss of ($0.36) earnings per share, missing expectations by ($0.12), with analysts forecasting a total of -1.32 EPS for the fiscal year.
• Analysts have given Archer Aviation a "Moderate Buy" rating, with a target price averaging $13.43, supported by multiple institutions increasing their stakes in the company.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) insider Tosha Perkins sold 42,775 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $420,478.25. Following the completion of the transaction, the insider owned 295,337 shares in the company, valued at approximately $2,903,162.71. The trade was a 12.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Archer Aviation Trading Down 5.6%

Shares of ACHR stock traded down $0.5550 during trading hours on Tuesday, reaching $9.2950. The stock had a trading volume of 28,132,719 shares, compared to its average volume of 32,208,378. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92. The firm has a 50-day simple moving average of $10.53 and a 200-day simple moving average of $9.39.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on ACHR shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Finally, UBS Group restated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Allworth Financial LP boosted its holdings in shares of Archer Aviation by 87.0% in the first quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after buying an additional 1,664 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation in the fourth quarter worth about $27,000. Strs Ohio acquired a new position in shares of Archer Aviation in the first quarter worth about $27,000. Tidemark LLC boosted its holdings in shares of Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after buying an additional 2,000 shares during the period. Finally, AlphaQuest LLC boosted its holdings in shares of Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after purchasing an additional 2,375 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.

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